Wall Street | The Dow Jones Industrial Average rose 38.78 points, or 0.11 percent, to 34,128.05, the S&P 500 gained 11.47 points, or 0.28 percent, to 4,147.6 and the Nasdaq Composite added 110.45 points, or 0.92 percent, to 12,070.59. (image: shutterstock)Asian Equities | Japan’s Nikkei rose 0.5 percent at 7:30 am on Thursday while the Shanghai index was trading 0.2 percent higher.SGX Nifty | Trends on SGX Nifty suggest a positive start for the broader market in India with a gain of 0.2 percent. Nifty futures were trading at 18,062.5 on the Singaporean exchange at 7:30 am.Dalal Street | BSE Sensex ended 242.8 points or 0.4 percent higher at 61,275.1, while the broader NSE Nifty advanced 86 points or 0.5 percent to 18,015.9.Trade Data | The Commerce Ministry released the trade data for the month of January on Wednesday. The data revealed a further dip in exports but a moderation in the trade deficit. The figures show that goods imports fell 13 percent month-on-month and almost four percent compared to the same period last year.Rupee | The rupee fell by four paise to close at 82.80 against the US dollar on Wednesday, amid strong American currency and fall in global crude oil benchmarks.Crude Oil | The brent crude oil benchmark was trading 0.7 percent higher at $85.8 a barrel at 8:00 am on Thursday.Gold | Spot gold gained 0.3 percent to $1,841.5 per ounce as of 8:00 am on Thursday.Cryptocurrency | Bitcoin was trading 12 percent higher at $24,722 at 8:06 am on Thursday while the Ethereum blockchain network gained nearly 10 percent in the last 24 hours to trade at $1,698.5.Russia Ukraine | Russia said it had broken through two of Ukraine’s fortified defence lines in the east of the country, while Western countries announced more military spending on Ukraine, including artillery rounds.
Wall Street | Stocks on Wall Street ended the overnight session higher on Thursday with Dow Jone Industrial Average index ending 0.35 percent lower, S&P 500 down 0.84 percent and the tech-heavy Nasdaq index finishing 1.37 percent lower.Asian Equities | Asian stocks were mixed on Friday. While Japan’s Nikkei was trading 0.5 percent lower, the Shanghai index was flat, up 0.03 percent while Hong Kong’s Hang Seng index traded 0.10 percent lower at 7:58 am. (Image: Reuters)SGX | On the Singapore Stock Exchange, SGX Nifty, which is indicative of the trend broader domestic index Nifty50, was trading half a percent lower at 17,554 while Nifty futures fell to 17,647.6. (Image: Reuters)Dalal Street | Falling for the second session, the 30-share BSE Sensex declined 337.06 points or 0.57 percent to close at 59,119.72 and the NSE Nifty went lower by 88.55 points or 0.50 percent to end at 17,629.80 on Thursday.Rupee | The rupee plunged by 83 paise — its biggest single-day loss in nearly seven months — to close at an all-time low of 80.79 against the US dollar on Thursday.Bank of England | Britain’s central bank raised its key interest rate by another half-percentage point Thursday, avoiding more aggressive steps to tame inflation that the US Federal Reserve and other banks have taken. The Bank of England raised its benchmark rate to 2.25%, matching its half-point increase last month the biggest hike in 27 years. (Image: Shutterstock)
Gold | Gold prices edged lower, pressured by a stronger dollar and higher Treasury yields, while the US Federal Reserve’s hawkish policy stance clouded the outlook for non-yielding bullion. It traded at $1,679.50, down 0.10 percent lower from previous close, at 7:53 am. (Image: Shutterstock)
Oil | Oil prices rose in early Asian trade on Friday on the prospect that a stalled Iran nuclear agreement and Moscow’s new mobilization campaign in its invasion of Ukraine would further restrict global supplies. Brent crude futures gained 16 cents, or 0.2 percent, to $90.62 per barrel by 5:50 am.Cryptocurrency | Cryptocurrencies traded mixed in morning trade with Bitcoin up 0.6 percent in the past 24 hours to $19,274 while Ethereum was down 0.8 percent to $1,324 at 7:55 am. (Image: Shutterstock)Russia-Ukraine War | Four areas of Ukraine controlled by Russia and pro-Moscow forces were preparing to hold referendums on Friday on joining Russia, a move widely condemned by the West as illegitimate and a precursor to illegal annexation. (Image: Russian Defense Ministry Press Service via AP, File)
Wall street | The S&P 500 ended close to unchanged on Monday, as investors looked ahead to quarterly earnings from big tech and a Federal Reserve meeting set to kick off later this week. The Dow Jones Industrial Average rose 90.75 points, or 0.28 percent, to 31,990.04, the S&P 500 gained 5.21 points, or 0.13 percent to 3,966.84 and the Nasdaq Composite dropped 51.45 points, or 0.43 percent, to 11,782.67.Asian equities | Asia-Pacific stocks were mixed on Tuesday after South Korea’s GDP beat expectations. Japan’s Nikkei 225 and Topix indexes declined 0.35 and 0.16 percent, respectively. There was an increase of 0.17 percent in the S&P/ASX 200 in Australia. South Korea’s Kospi fell 0.22 percent.SGX Nifty | With a loss of 9 points, trends in SGX Nifty are forecasting a flat opening in India. The Nifty futures were trading around 16,609 levels on the Singaporean exchange.Dalal Street | As the market halted its six-day winning run on Monday the Sensex closed 306 pts lower and Nifty below 16,650. Broader markets also bore the brunt of overall weakness on the Street, with the Nifty Midcap 100 and Nifty Smallcap 100 indices falling 0.1 percent and 0.6 percent respectively.Rupee/dollar | The rupee edged higher to hit the 1-week high of 79.71 against the US dollar on Monday amid easing oil prices though strength in the greenback overseas and weakness in domestic equities played spoilsport.Financial Results | These companies are set to report their June quarter earnings today – Larsen & Toubro, Asian Paints, Baid Finserv, Bajaj Auto, Tata Power Company, Union Bank of India, Aditya Birla Sun Life AMC, United Spirits, Ujjivan Small Finance Bank, UTI Asset Management Company, Greenlam Industries, Ramco Systems, Symphony, Sanofi India, Shoppers Stop, Apollo Pipes, EIH Associated Hotels, EPL, Ethos, KEI Industries, Mahindra EPC Irrigation, PNB Gilts, SIS, South Indian Bank, and TTK Healthcare.Gold | Domestic gold prices fell on Monday after recovering from a 15-month low mark in the previous sessions. Global benchmarks held the ground firmly on lower Treasury yields and a largely unchanged dollar. MCX gold August futures fell 0.2 percent to touch the intraday low of Rs 50,551 per 10 grams. White metal futures fell 0.8 percent to Rs 54,702 per kilogram, almost one percent above the lifetime low of Rs 54,151 per kilogram.FII-DII data | Foreign institutional investors (FIIs) have net sold ₹844 crore worth of shares, whereas domestic institutional investors (DIIs) have net sold ₹72 crore worth of shares on July 25, as per provisional data available on the NSE.Cryptocurrency | Bitcoin was trading 2.3 percent lower at $21,936.7 in the morning hours on Monday. Bitcoin’s market capitalisation was at $419.9 billion, while the trade volume was at $26.6 billion in the past 24 hours. Bitcoin has seen a 3.1 percent gain in the past seven days. While Ether was 2.6 percent down at $1,522.5 with market capitalisation of $185.4 billion. Trade volume of Ethereum was $29.4 billion in the last 24 hours. (Image: Shutterstock)Oil | Prices of oil dropped ahead of this week’s Federal Reserve meeting, which could lead to another large interest-rate hike to combat inflation, escalating fears of a recession.
Wall Street | The Dow Jones Industrial Average ended 1.76 percent higher while the S&P 500 gained 2.47 percent and the Nasdaq Composite closed 3.33 higher on Friday. Economic data showed that consumer spending was better-than-expected and inflation might have peaked which drove the key US indices to settle higher.Asian Equities | Taking cues from the US market, benchmark indices in Asia rose on Monday. MSCI’s broadest index of Asia-Pacific stocks outside Japan was gained nearly 1 percent earlier today. Japan’s Nikkei 225 jumped 1.9 percent, Hong Kong’s Hang Seng rose 0.9 percent, South Korea’s Kospi surged 1 percent and China’s Shanghai Composite was up 0.3 percent.D-Street | On Friday, Nifty50 ended at 16352.45, up 1.1 percent while Sensex closed 1.2 percent higher at 54884.66.SGX Nifty | Nifty futures traded on the Singapore Exchange rose 0.8 percent to 16,461 points as of 7:45 am, indicating a positive open for Dalal Street.Crude Oil | Oil prices rose to two-month highs today as traders waited to see if the European Union would reach an agreement on banning Russian oil ahead of a meeting on a sixth package of sanctions against Moscow for its invasion of Ukraine, reports said. Brent crude futures gained 46 cents, or 0.4 percent, to $119.89 a barrel while US West Texas Intermediate crude futures jumped 60 cents, or 0.5 percent, to $115.67 a barrel, extending solid gains from last week.Dollar | The dollar nursed last week’s losses and was headed for its first monthly drop in five months today as investors have scaled back bets that rising US rates will spur further gains and as fears of a global recession have receded a little, as per reports.Gold | Gold prices firmed in choppy trading on Monday, as a weakening dollar buoyed greenback-priced bullion, although gains were capped by some investors turning to riskier assets in Asia. Spot gold was up 0.2 percent at $1,856.86 per ounce, as of 0152 GMT. U.S. gold futures edged 0.1 percent higher to $1,859.40.Stocks to watch | Stocks such as Mahindra & Mahindra, Oil and Natural Gas Corporation, Tata Motors and Nykaa among others will be on investors’ radar. (Read the complete list of today’s stocks to watch here)FII and DII data | As per provisional data available on the NSE, foreign institutional investors (FIIs) have net sold shares worth Rs 1,943.10 crore, whereas domestic institutional investors (DIIs) remained net buyers, to the tune of Rs 2,727.47 crore worth of shares on Friday.Cryptocurrency | Major cryptocurrencies traded in the green early on May 29 as the global crypto market cap increased 0.70 percent to $1.20 trillion over the last day. Bitcoin traded above Rs 23 lakh while Ether traded at Rs 1.44 lakh. Cardano gained 2 percent while Binance Coin was trading 1 percent higher.
Wall Street | US stocks extended Friday’s bruising sell-off to the overnight session Monday as investors rushed to protect themselves against the prospect of a weakening economy. The Dow Jones Industrial Average fell 1.99 percent, the S&P 500 lost 3.2 percent and the Nasdaq Composite dropped 4.2 percent. (Image: Reuters)Asian equities | Asian shares tumbled to their lowest in nearly two years in morning trade as investors sold riskier assets on worries about higher interest rates and their impact on economic growth. The Nikkei lost 2 percent, Australian shares shed 2. 2 percent and Korean stocks lost 1.8 percent. (Image: Reuters)SGX Nifty | Trends on the Singapore Stock Exchange hinted at a negative start for India’s broader index Nifty50. SGX Nifty and Nifty futures were both down 0.13 percent at 7:32 am. (Image; Reuters)Dalal Street | Sensex shed 364.91 points or 0.67 percent to close at 54,470.67 and the NSE Nifty50 tumbled 109.40 points or 0.67 percent to end at 16,301.85.Rupee | The rupee on Monday slumped by 54 paise to close at a record low of 77.44 against the US dollar, pressured by the strength of the American currency overseas and unabated foreign fund outflows.Gold | Gold prices firmed on Tuesday as a decline in US Treasury yields offset pressure on greenback-priced bullion from sustained strength in the dollar. Spot gold was up about 0.1 percent at $1,854.91 per ounce, as of 6:25 am. US gold futures were down 0.2 percent at $1,854.10. (Image: Reuters)Oil | Oil prices edged lower in early Asian trade on Tuesday, adding to a 6 percent slump in the previous session, as coronavirus lockdowns in top oil importer China and potential economic ructions in Europe fed worries about the demand outlook. Brent crude oil fell 1.5 percent to $101.5 at 7:48 am.Cryptocurrency | The cryptocurrency market continued to slide with Bitcoin down more than 11 percent in the past 24 hours to $30,785.14 while Ethereum was trading 0.9 percent lower at $2,308.79 at 7:43 am. (Image: Shutterstock)Russia-Ukraine war | Russian forces on Monday used tanks and artillery in “storming operations” at the Azovstal steel plant in Mariupol where the city’s last defenders are holed up, Ukraine’s defence ministry said. (Reuters)Earnings | Asian Paints, Vodafone Idea, Cipla, Aris International, CERA Sanitaryware, Gujarat Gas Ltd, Kansai Nerolac Paints among others will report their quarterly earnings today.
Wall Street: US shares ended the session higher led by rally in tech stocks. On Wall Street, Nasdaq lead gains and settled 271.05 points or 1.9 percent higher and Dow Jones Industrial Average was up 36 points or 0.8 percent. Twitter shares surged 27.1 percent on news that Tesla Inc Chief Executive Officer Elon Musk has built a 9.2 percent stake in Twitter Inc. (Image credit: Reuters)Dalal Street | Sensex vaulted 1,335 points while the Nifty shot past the 18,000-mark on Monday, fuelled by index heavyweights HDFC twins.SGX Nifty: SGX Nifty, which is an early indicator of how India’s broader index Nifty would perform, was up 104.25 points or 0.5 percent at 7:55 am on Tuesday. Nifty futures were up 98.2 points or 0.5 percent.Asian markets: Japan’s Nikkei was down 1.09 percent, the Shangai index was up 0.9 percent whereas Hong Kong’s Hang Seng Index rallied 2.1 percent in morning trade.Indian Rupee: The rupee spurted 21 paise to close at a one month-high of 75.53 against the US dollar on Monday, supported by a firm trend in domestic equities and foreign fund inflows. At the interbank forex market, the local unit opened at 75.77 against the greenback and witnessed an intra-day high of 75.42 and a low of 75.79. It finally ended at 75.53, registering a rise of 21 paise over its previous close.Cryptocurrency: The Bitcoin was quoted at $46588 at 08:05 am IST, up 0.21 percent. The Ethereum traded at $3513, up 0.49 percent.Crude oil prices: Oil futures rose in early trading on Tuesday as the potential for more sanctions following alleged war crimes by Russian troops in Ukraine added to concerns about supply disruptions, while Iran nuclear talks stalled. Brent crude futures were up $1.58, or 1.5 percent, to $109.11 a barrel, while US West Texas Intermediate futures were up $1.61, or 1.6 percent, to $104.89 a barrel at 0028 GMT or 5.58 am IST.Fuel price hike:Petrol and diesel prices were hiked by 80 paise per litre on Tuesday, taking the total increase to Rs 9.20 in 15 days. This is the 13th rise in fuel prices since the ending of a four-and-half-month long hiatus in rate revision on March 22.Russia Ukraine War Live Updates: US President Joe Biden on Monday called for a war crimes trial against Russian President Vladimir Putin and additional sanctions following reported atrocities in Bucha, one of the towns surrounding the Ukrainian capital of Kyiv where Ukrainian officials say the bodies of civilians have been found. What’s happening in Bucha is outrageous and everyone sees it, Biden said. A file photo of Russian Army service member (Image: Reuters)
Wall Street | US stocks initially rose after Powell eased widely held expectations of a 50 basis-point hike in interest rates when policymakers meet in two weeks. But stocks later fell after Powell told a Senate committee in the second day of testimony before Congress that Russia’s war in Ukraine could hit the US economy from higher prices to dampened spending and investment. The Dow Jones Industrial Average fell 0.29 percent, the S&P 500 lost 0.53 percent and the Nasdaq Composite dropped 1.56 percent.Asian equities | Asian markets witnessed heavy selling pressure in early trade on Friday with oil prices jumping as a report of a nuclear power plant on fire amid continued fierce fighting between Ukraine and Russian troops further unnerved investors. Japan’s Nikkei 225 fell 2.4 percent and South Korea’s Kospi was down 1.2 percent. Hong Kong’s Hang Seng slumped nearly 3 percent. MSCI’s Asia Pacific ex Japan index was down 1.5 percent.Dalal Street | Indian equity benchmarks slid into the red in the second half of a choppy day on Thursday, dragged by financial and automobile shares. Gains in IT and oil & gas shares, however, limited the downside. Globally, geopolitical uncertainty continued to keep investors nervous one week into Russia’s invasion of Ukraine. On Thursday, Nifty50 closed 0.7 percent lower at 16498.05 while Sensex ended down 0.7 percent at 55102.68.Oil | Brent crude futures, the international benchmark for oil, climbed to $120 a barrel before falling on hopes the US and Iran will agree soon to a nuclear deal that could add output to a badly undersupplied market. US crude settled down $2.93 at $107.67 a barrel, while Brent slipped $2.47 to settle at $110.46.Rupee | The rupee declined by 15 paise to close at 75.95 (provisional) against the US dollar on Thursday, pressured by surging crude oil prices amid intensifying conflict between Russia and Ukraine. At the interbank foreign exchange market, the rupee opened strong at 75.76 against the American dollar but soon entered the negative territory as investors turned towards safe-haven assets. During the session, it swung between a high of 75.60 and a low of 75.98.Gold | US gold futures settled 0.7 percent higher at $1,935.90 an ounce.Russia-Ukraine war updates | Prime Minister Narendra Modi participated in a virtual summit of Quad leaders, along with US President Joe Biden, Australian Prime Minister Scott Morrison and Japanese Prime Minister Fumio Kishida. According to a press release issued by the Prime Minister’s office, developments in Ukraine were discussed in the meeting, including its humanitarian implications. “The Prime Minister emphasised the need to return to a path of dialogue and diplomacy,” the release added. (Read more here)Europe’s largest nuclear power plant on fire | The largest nuclear power plant in Europe is on fire following a Russian attack, Ukraine’s foreign minister said on Friday, as he called for a security zone and firefighters to be allowed to tackle the incident. (Read further here)Stocks to watch | Top stocks that will be closely watched are Vodafone Idea, UPL, Indiabulls Housing Finance, Wockhardt, Axis Bank among others. (Check out the list of stocks to watch out for in trade on March 4)Google tells employees to return to offices in US | Tech giant Google said it will end the voluntary work-from-home period and start having employees in the Bay Area and several other US locations return to the office starting the week of April 4. (Click to read more)
Wall Street | US stock markets on Wednesday rebounded after days of fall as Federal Reserve Chair Jerome Powell said he supports a more modest rise in interest rates this month than some investors had been fearing. The S&P 500 rose 80.28 points, or 1.9 percent, to 4,386.54. The Dow Jones Industrial Average rose 596.40 points, or 1.8 percent, to 33,891.35. Nasdaq rose 219.56 points, or 1.6 percent, to 13,752.02 and Russell 2000 index of smaller companies rose 50.37 points, or 2.5 percent, to 2,058.87.Asian equities | A bounce back in US key indices supported the uptrend in Asian equities on Thursday. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.5 percent higher. Japan’s Nikkei 225 gained 0.9 percent to 26,617.51 and South Korea’s Kospi was up over a percent at 2,732.66. Hong Kong’s Hang Seng was up 0.3 percent at 22,415.66 and China’s Shanghai Composite also gained 0.3 percent at 3,491.70.Dalal Street | Indian equity benchmarks snapped a two-day winning streak on Wednesday with the market resuming trade after a day’s holiday. Weakness across global markets amid escalating tensions between Russia and the West over Ukraine and lower than expected GDP growth dampened investor sentiment. Nifty50 settled 1.1 percent lower at 16605.95 while Sensex closed at 55468.90, down 1.4 percent.Oil prices | Crude oil surged again on a wave of divestments from Russian oil assets by major companies and expectations that the market will remain short of supply for months to come. US crude rose another 36 cents to $110.96 a barrel, while Brent had yet to trade having surged 9 percent overnight to $114.54.Rupee | The rupee depreciated by 47 paise to close at 75.80 against the US dollar on Wednesday, pressured by the Russia-Ukraine crisis. At the interbank foreign exchange market, the rupee opened at 75.78 against the American dollar but later dropped to a low of 75.86. The local unit finally finished at 75.80, down 47 paise from its previous close.Dollar index | The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.20 percent higher at 97.60Gold | Gold for April delivery fell $21.50 to $1,922.30 an ounce.Russia-Ukraine Conflict | Russian troops are in the Ukrainian city of Kherson and forced their way into the council building, the mayor said after a day of conflicting claims over whether Moscow had make the first major gain of a city in its invasion that began eight days ago. READ MORETrading on NSE IFSC for Amazon, Tesla, 6 other US stocks | NSE International Exchange (NSE IFSC), a wholly-owned subsidiary of the NSE, will start trading Amazon, Tesla, 6 other US stocks from today onwards. The trading currency will be US Dollars and the minimum ticket size is $0.01. The trading will start at 8:30 PM on day one to 2:30 PM the next day.Stocks to Watch | Shares of Vedanta, UPL, Chalet Hotels, ABB India, Mukand, Hind Rectifiers, Swan Energy and a few more will be closely tracked by investors. READ MORE
Wall Street | The US market was closed on Monday on account of the Presidents Day holiday.Asian Equities | Heavy losses were witnessed in Japanese, South Korean, Hong Kong and Chinese markets as Ukraine-Russia crisis intensified with Russian recognition of breakaway Ukraine regions.D-Street | Indian benchmark equity indices ended lower for the fourth consecutive session on Monday amid volatility on the back of the Russia-Ukraine crisis. Nifty50 settled 0.4 percent lower at 17,206.65 while Sensex closed at 57,683.59, down 0.3 percent.Crude Oil | Oil prices jumped to a seven-year high after Russian President Vladimir Putin ordered troops into breakaway regions of eastern Ukraine. Brent crude futures rose 1.6 percent to $96.94.Russia-Ukraine Crisis | UN Secretary-General Antonio Guterres voiced great concern over Russia’s decision to recognise Donetsk and Luhansk regions of Ukraine as independent, saying Moscow’s decision is a “violation” of the territorial integrity and sovereignty of Ukraine and inconsistent with the principles of the Charter of the United Nations. This was after Russian President Vladimir Putin ordered the deployment of troops to two breakaway regions in eastern Ukraine after recognising them as independent on Monday, accelerating a crisis the West fears could unleash a major war.Rupee | The Indian rupee on Monday extended its gains for the fifth straight day. After opening strong at 74.51 against the greenback, from Friday’s close of 74.66, the rupee extended those gains and rose to a high of 74.35.Cryptocurrencies | Cryptocurrency prices today plunged with Bitcoin falling below the $38,000 level. The world’s largest and most popular cryptocurrency declined more than 5 percent to $37,150. Ether also fell about 5 percent to $2,590 while Dogecoin price crashed over 7 percent to $0.12 and Shiba Inu also plummeted about 8 percent to $0.000024. The performance of other coins also tanked as Solana, XRP, Terra, Avalanche, Stellar, Cardano, Polygon, Polkadot prices were trading with cuts in the range of 5-12 percent, as per reports.Gold | Gold prices hit a near nine-month-high on Tuesday, after Russia ordered troops into breakaway regions of eastern Ukraine, boosting demand for the safe-haven metal. Spot gold was up 0.2 percent at $1,909.54 per ounce after scaling its highest since June 1 at $1,913.89 per ounce earlier. US gold futures gained 0.7 percent to $1,913.60.IPO Market | API Holdings, India’s largest digital healthcare company, has received approval from markets regulator Sebi to raise Rs 6,250 crore through an initial public offering (IPO). Adar Poonawalla-backed Wellness Forever Medicare and metal recycling firm CMR Green Technologies have also got Sebi’s go-ahead to raise funds through initial share sales.Government may bring ATF under GST ambit | In what could be a win-win situation for the industry, central government and states, the GST Council is likely to deliberate on a formula to get ATF under the ambit of GST. CNBC-TV18 has learnt that centre is likely to allow 18 percent GST along with VAT or excise to get state governments on board.
Wall Street: Wall Street closed higher Tuesday, getting February off to a decent start on the heels of a miserable January. S&P 500 rose 0.7 percent, Dow Jones rose 0.8 percent, and the tech-heavy Nasdaq rose 0.7 percent. Asian equities: Asian shares rose higher Wednesday tracking stocks on Wall Street. MSCI’s broadest index of Asia-Pacific shares ex-Japan surged 0.3 percent. Shares in Japan advanced 1.5 percent. Markets in China, Hong Kong, Singapore, South Korea are closed today for Lunar New Year holiday. Elsewhere in Australia, stocks jumped 1.9 percent. D-Street: The Indian share market closed over 1 percent higher Tuesday after the announcements on Budget 2022. Sensex rose 850 points to 58,862 and the Nifty50 index settled at 17,576, up over 237 points. Crude oil: Oil prices closed flat Tuesday, as geopolitical tensions and tight global supplies supported the market even as some speculated the oil cartel OPEC+ might boost supplies in the coming meeting. On Wednesday, Brent crude was up 0.3 percent at $89.45 and the US oil was rising to $88.45. Gold: Gold futures on MCX Tuesday rose by Rs 300 to Rs 47,632 per 10 grams. Silver futures for delivery in March also surged by over Rs 340 to Rs 60,976 per kilogram. On Wednesday, both precious metals were mixed in the international spot market, with gold at $1,801 and silver at $22.65 per ounce. Rupee: Rupee slipped 17 paise to close at 74.82, paring initial gains, as caution set in among market participants after the govt raised the fiscal deficit target above than that of FY22 in the Budget. Meanwhile, the dollar index fell 0.19 percent to 96.35 Monday. Bitcoin: Bitcoin price surged over 1.15 percent in the past 24 hours to Rs 30.83 lakh Wednesday morning, per data from CoinDCX, despite govt announcing a 30 percent tax on crypto gains. Ether, the second largest coin, surged over 3.45 percent during the same duration. Globally, Bitcoin was up over half a percent to $38,000 whereas Ether had advanced over 2.5 percent, per data from CoinMarketCap.Budget Highlights | Borrowing plans: India plans to sell record amount of bonds—worth Rs 15 trillion—in FY23. As per budget documents, net borrowings for the coming fiscal are estimated at Rs 11.2 trillion. Continue readingBudget Highlights | Fiscal deficit: Govt has pegged the fiscal deficit for 2021-22 at 6.9 percent of GDP and at 6.4 percent for 2022-23. The deficit for FY22 is 10 basis points higher than the earlier projection of 6.8 percent. Continue readingBudget Highlights | GDP estimate: India’s GDP is pegged at 9.2 percent for FY22, highest amongst all the large economies, FM Sitharaman said Tuesday. Continue readingBudget Highlights | Capex: FM announced a sharp rise in capex by 35.4 percent to Rs 7.50 lakh crore for FY23. In FY22, capex was Rs 5.54 lakh crore. Continue readingBudget Highlights | Crypto gains tax: FM Sitharaman announced a 30 percent tax on crypto gains, along with a TDS of 1 percent on transfer of digital assets. She said the loss from transfer of digital assets cannot be set off against any other income. Continue reading
